Saturday, June 12, 2010

Bursa Malaysia Weekly Summary

KLCI Weekly Chart

KLCI has succeeded in covering the gap of 1290-1300. Unfortunately, in the process of covering this gap, a few gaps were made at 1270 and 1293-4. From the chart, it looks like KLCI is in consolidation mode. The consolidation range should be +/-20 points around 1300. No strong trend in either up/down direction. For trend followers like me, this is the time not to take in any new position. However, if one has an old position, then I believe that it is best to close it due to the worsening fundamentals.

Summary for the rest of the sector:
Malaysia Monthly Weekly Daily
FBM KLCI Up Neutral Neutral
Finance Up Neutral Neutral
Construction Up Neutral Neutral
Plantation Neutral (-) Down Neutral
Property Up (+) Down Neutral

No comments: